Performance Plants signs deal with Chinese firm

Kingston ON-based Performance Plants Inc (PPI) has signed a collaborative licensing agreement for corn and four-year R&D collaborative licensing agreement for rice and soybean with Beijing Dabeinong Technology Group Co Ltd. The deal is part of PPI's strategy to establish global technology and product development agreements to commercialize its technologies. China is a major producer of corn, soybeans and rice but its yields are less than those in North America due to less favourable environmental conditions. PPI produces strains of these crops that are heat and drought tolerant. The privately held PPI has already signed deals with leading seed companies such has Pioneer Hi-Bred, Bayer CropScience and Scotts Miracle Gro…